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26 Feb 2015
EUR/JPY to fall below 135.00?
FXStreet (Mumbai) - The EUR/JPY pair is threatening to fall below 135.00 levels after an upbeat German employment data failed to strengthen the shared currency. Additional bearish pressure came from a disappointing sentiment indicator in the Eurozone.
EUR/JPY – trades below hourly 200-MA
The pair fell below the hourly 200-MA located at 135.13 after the Eurozone business climate index in Feb came-in at 0.07, missing the estimate of 0.22, and down from the previous month’s 0.12. Industrial confidence and service sentiment also printed lower than forecasts. The consumer confidence came-in lint with the estimate at -6.7. The only positive surprise came from Economic sentiment indicator in Feb which printed at 102.1, beating the estimate of 101.9. However, the single positive figure failed to strengthen the shared currency, which earlier today, remained unresponsive to the upbeat German employment figures.
EUR/JPY Technical Levels
The immediate support is seen at 134.75, under which losses could be extended to 133.92 levels. On the flip side, a break above the immediate resistance at 135.70, could push the pair higher to 136.00 levels.
EUR/JPY – trades below hourly 200-MA
The pair fell below the hourly 200-MA located at 135.13 after the Eurozone business climate index in Feb came-in at 0.07, missing the estimate of 0.22, and down from the previous month’s 0.12. Industrial confidence and service sentiment also printed lower than forecasts. The consumer confidence came-in lint with the estimate at -6.7. The only positive surprise came from Economic sentiment indicator in Feb which printed at 102.1, beating the estimate of 101.9. However, the single positive figure failed to strengthen the shared currency, which earlier today, remained unresponsive to the upbeat German employment figures.
EUR/JPY Technical Levels
The immediate support is seen at 134.75, under which losses could be extended to 133.92 levels. On the flip side, a break above the immediate resistance at 135.70, could push the pair higher to 136.00 levels.